Lument Provides $13.9M Bridge Loan For 192-Unit Multifamily Property In Fort Worth
2925 West Normandale Street, Fort Worth, TX 76116
$13,900,000
$88/SF
Building Size
156,405 SF
Asset Type
MultiFamily
Closing
Aug 9, 2020
AI
The multifamily property located at 2925 W Normandale St in Fort Worth has recently undergone a closed transaction. The property consists of 192 units and is situated in the Fort Worth market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,900,000
- Address: 2925 W Normandale St
- Market: Fort Worth
- Units: 192
The loan for this transaction was provided by lument''>Lument, with John Sloot and Colin Cross representing the lender. The loan type is a bridge loan. John Brickson from Old Capital served as the broker in the deal.
Players
Fort Worth MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93